What is a board of directors meeting?

It is a formal meeting for the board of directors of a company (guest included). There is no legal requirement for this but holding this meeting at regular intervals has become such a common practice in the business world. Obviously, if the company only has one director, there is no need for the meeting of directors.

The first meeting is usually held within a month after the incorporation to set forward the vision, missions, responsibilities and liabilities in the company as well as voting for the chairperson. This meeting is overseen by the chairperson who is voted for by the other members of the board.